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SME tax survey results in March

Results of the inaugural survey of the tax compliance burden for small and medium sized businesses (SMEs) will be available from Inland Revenue in March.

About 5600 SMEs around the country (1816 in Auckland) were asked to take part in the research up till mid November, to measure the time and money they spend on tax compliance. Confidentiality was guaranteed.

“The results will be invaluable when designing initiatives to help cut compliance costs or provide advice on tax policy,” says deputy Inland Revenue Commissioner, Cathy Magiannis.

Further down the track Inland Revenue will follow this with more research to make sure new initiatives are working.